The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-05

mp roughly ]nst SiOl,Vu,OVO, me
commission doubtless, therefore, liqui.
dsted thoeo claims approximately es
. 1T Of their work, and fixed the issue
Of cnnsols to inset their estimate Of
what ~ fual liquidation will be. II
il understood, Of course, that this
statement doea not recognize ds1's
contracted by the Emperor Maximl.
ian, or the debts contracted Tor the
maintenance Of the French army in
Mexico cent over ty Napoleon. And
tais Ia legitima enough. 'he7o debts
are indeed less binding on Mexico IL
any way than the war debt uf the Con-
federate States would bs on this coun.
try.
In order to present fairly the rePults
OF the best work on this ditiiult quss.
lion, the table OF the Euglish expert is
heie presented:
APPROXIMATE SUMMARY OF TOTAL
NATIONAL INDEBTEDNESS.
I-Debts converted or convertible into new
consolidated bonds under the decree Of
June %, 1896.
|. The English debt, estimated
as hereinbeforo at flS,Sl,-
IT'S, taking Is per 81, repre-
senb..,..' osielS,olo
2. Tho American Carbajal debt. 2t2,tC0
3. The English convention delt.. $3.50, 42
4. The Padre Moran convention
5. TIE spanish convention debt. 2,4Os, ios
q. Tie internal de bt................., B,l2o,&l7
Total new bonds. ..............sisS.l l9. le4
II-Dsbts excluded ON the above
decreeI
/. The debt of the United States .
goyefnmeut.......,.... ............s l,2I5,la
2. The treasury bonds Of 1885, 5,0O,000
dobts..........'.....,...... :. 60 4,mO,O 900
4. The unascertainod claims, Fay 100000
Total ...... ..,.....,....;..........t 2l0,s4 ass
Less reductions Of principal and
interest due to non produc-
tions OF claims provided for;
to c0mpensati0nt by way OF
concessions TO railway COM
panios, contractors, etc., in
lieu OF payment, TO compro-
promisee, to settlements out
OF current revenues, ETC., say 1884, 2ss
Approximate grand total Of debt tlss. coo. GOO
1t Is noticeable that thete tables
differ not only in sum total but in the
exact fgures Il nearly every item
Where the differences are slight this
may be accounted for by the ,ct that
the two tables are rot made out TO eX.
actly the same date. What Is re-
marksble in then lie tina, responsible
government gisyely argues with q pri-
vate experi the ca culatic oil its own
obligations ana treats hrs work and
hgures with respect. Ih,se row ton-
soils cell in the Lopdnn matiet at 20 to
203 per cent. They re not
qlo'ed IN Now York. II is a
low figure, but the int rect is low
and 1t must be borne Ia mind that
the foundation OF this new loan IL ia
herently weak. lis built on az at
which some call reputation, and
Others q wise ackno xle1gment Of
bankruptcy. This act was the famous
body OF de,ree1 OF June, 1885 (of
which the law Of Juue 22d,is one) eus.
pendiug ell payment stopping the
csshisg through the custom houses Of
the railway subventions, and pIov.d.
Ing generally for new start forward
by wiping out the slate Of The past.
Thsse coDsols are, in fact, simply an
offer Of bettlems nt made by al insol.
vent debtor. As q government, how.
ever, is sovereign, the compromise In
one reached by the deliberations Of
one party to tde broken pact only.
The prompt payment OF interest and
the slow movement OF oontinu.
Gus good faith " oueh wears
Is what il needed 10 brig ,hsss bonds
mp o par.
The financial condition OF Mexico
today, No above shown, is morally and
economically q bad one, but looking
ut IL in hard commercial sense IL In
not hopeless. Its no worse than that
OF Virginia today, nor than that Of
Allegheny county, In Pennsylvania,
Yves twenty-five years ago, nor than
that Of many Of the counties OF the
Western States In this ountry are at
this time, whel they a,e Just emery
ing from a severe struggle with the
courts Of the U lited States In which
their honor and cftdi, has been saved
against themselyeL The rigid oDl ga.
lions OF the market have alSays been
strengthening 10 the moral sense Of
nations aud communities, aud doubt.
less Mexic1 viii Booa learn the leason